Yahoo has been an ongoing stage for drama: CEO firings, fluctuating stock prices, selling rumors, restructuring/lay offs and cost cutting, activist shareholder proxy fights, and board departures … all generating headlines and creating huge distractions for Yahoo’s approximately 13,000 employees.
Levinsohn’s first memo to employees as interim CEO was leaked May 13, 2012; it provided employees with a copy of the press release announcing company changes, and said that the “unfortunate and serious distractions surrounding senior leadership” and board composition had ended.
He invited employees to ask him or members of senior management any questions and announced an all-company meeting would be held the next day. (At that meeting the new board chair indicated he wanted Levinsohn to become the permanent CEO.)
Levinsohn’s memo suggested a tone of openness and transparency that his actions over the next several months will either confirm or negate.
In the memo, Levinsohn (who joined Yahoo in 2010) indicated his three reasons for accepting the interim leadership role were: the strength of Yahoo’s brand and relationships with users and partners; his belief in the organizational and strategic processes underway; and his belief in Yahoo’s employees and their dedication to making the company great.
The pep talk and sense of new beginnings start another new page in a company that hasn’t had the stability of consistent leadership for a long time. Thompson’s brief tenure as CEO mired the company in a resume lie.
Interim or not, what Levinsohn reinforces he will get more of.
If his actions give life to Yahoo’s values — excellence (defined as winning by integrity), innovation, customer fixation, teamwork, community, and fun– he embeds them into “how we do business around here.”
Living corporate values increase trust, which increases productivity and reputation, a powerful business strategy.
Gael O’Brien May 15, 2012
Gael O’Brien is also a columnist for Business Ethics Magazine. Her May column is about corporate culture and bullying.